The 2004 pre-budget Estimates provide for a total expenditure on public services of €40.4 billion in 2004, which is an increase of €1.9 billion or a 5% increase on the forecasted outturn for 2003. The gross allocation for current spending is just under €35 billion or a 6% increase on the forecasted outturn for 2003. The gross Exchequer provision for capital investment is €5.5 billion, which is two and three quarter times the level of capital expenditure in 1997. The overall level of investment provided for 2004 represents a substantial allocation of resources in providing for day to day public services and for development of the economy into the future. The Estimates have been formulated with a view to consolidating the substantial economic and social progress which the Government has achieved since 1997 and to ensuring that the economy is well placed to take advantage of the expected upturn in the international economy.